Gifts in wills

We’re making great strides against cancer. Many of us can remember when people didn’t even want to say the word ‘cancer’ because of its deadly connotation. Thankfully, that’s changed – a lot.

When the Canadian Cancer Society was founded in 1938, only 25% of those diagnosed would survive their cancers. Donors like you have saved millions of lives. Over the decades, we’ve done a lot. Canadians have given generously to invest in cancer research and new, more effective treatments.

Thousands of Canadians have left gifts in their wills to fund the fight against cancer. Those donations have paid off. Today, 65% of people diagnosed with cancer will survive. We’ve come a long– but we still have lots to accomplish.

We’ve made amazing progress in less than one lifetime. But we must continue this fight. No one wants a loved one to face a cancer diagnosis. If we keep believing, and keep giving, we can win this fight for everyone.

Most of us reach a stage as we mature when we question the purpose of our lives. Why are we here? What are we here to do? How do we want to be remembered? These are the questions we ask as we begin to consider our legacies. If you’re like most people, you want to leave a footprint on the world that speaks positively of your time here.

Many of us will be remembered for our best qualities. Our character and generosity. Our joys and our integrity. We’ll be remembered for our roles as husbands and wives, mothers and fathers, friends and neighbours.

How will you be remembered?

Almost all of us have had our lives shaken by a cancer experience. Maybe we’ve had cancer ourselves or gone through the cancer journey with a loved one. This disease has left its mark on our lives.

A gift in your will to the Canadian Cancer Society can be a meaningful remembrance of your cancer experience. It will be a statement of hope for those whose journeys have yet to begin.

Most of us live pretty simple lives. We learn. We work. We raise our children. We do our utmost to be productive and caring members of our neighbourhoods and communities. Most of us reach the end of our lives without great riches or fame. Yet, if we have lived well, our lives have been fulfilling and full of love.

As we contemplate our wills, we make important choices. We decide who will receive our material wealth – and who’s worthy of those gifts.

Who should you include?

Many of us choose to provide for spouses, children and grandchildren if we have them. Some of us choose to include those causes and organizations that have meant much to us during our lifetimes. If cancer has touched your life, we would be honoured if you would consider a gift in your will. Your bequest will increase the survival odds of those whose cancer journeys are still to come.

We understand that you may have people who depend on you for financial support. That’s as it should be. But if you are able to provide for family and worthy causes, we would welcome your legacy gift.

Gifts in wills – a popular legacy choice

1.5 million Canadians have already chosen to make gifts to charity in their wills. Many noble and generous people have chosen to extend their love beyond their immediate circle.

Your will reflects what you value in life. In writing a will, your lasting words will echo through the generations and will ensure that your final wishes become a reality.

“Creating a gift in my will was easy to do, and it honours the memory of Liz. We have to join together to fight this disease, and it’s one of the best investments I could make for a cancer-free future.” – Frank Noneley

Why leave a bequest?

A will is the easiest and most effective means to ensure that you fully provide for your family and that your assets are distributed according to your wishes.

Your bequest to the Society will go directly to the fight against all cancers – we do everything possible to prevent cancer, save lives and support those living with cancer.

Other than the cost of preparing your will, there is no additional cost for you to make a generous gift.

A bequest provides the comfort of knowing your assets are still available for you today if needed.

A gift in your will allows you to make a tax-effective gift, often eliminating the taxable impact on your beneficiaries.

At the end of the day, only you can decide what is right for you. If a gift in your will is appealing to you, your legacy can help end cancer in Canada.

You’ve probably read about super-bequests in the newspaper or seen stories about them on the news. When a multi-millionaire leaves a huge gift to charity in his will, it becomes a headline. We see these stories and assume that legacy gifts are the domain of the rich alone. Nothing could be further from the truth.

Every day, people from all walks of life make important gifts in their wills. A farmer leaves a bequest to his church. A retired teacher leaves a gift to her local food bank. These gifts don’t make the headlines – but they do so much to improve lives here on earth. Legacy gifts pay big dividends.

The Canadian Cancer Society has made great strides in helping people beat their cancers. This is because everyday people have chosen to leave gifts in their wills. In fact, these gifts account for about a quarter of all revenues received by the Society.

There are 1.5 million Canadians alive today who have made charitable bequests. Many of these people are supporting strangers who are about to embark on their cancer journeys.

Barbara Garvin

"Now I know that I will help someone with cancer even after I’m gone. It’s a footprint I want to leave behind me."

Margaret Williams

Many people are drawn to the idea of leaving bequests to charity. Then, many stop and think, “But I need to provide for my family first.” After further thought and consideration, some conclude that providing for family is all that they can do.

Others decide that they can provide for their families and make a bequest to their favourite charity. These decisions are deeply private and personal.

After all, we’re deciding on the legacies we want to leave behind when we’re gone. We’re deciding on how we want to be remembered. We’re deciding on how we can sow the seeds of a better world after our lifetimes.

People are often surprised to learn how their wills can transform them from “ordinary donors” to “philanthropists.” It’s actually simpler than you might think. Most of us make our charitable donations during our lifetimes from our disposable income. That means that we have so much money per month to spend. We often choose to allocate some of that money to worthy charities.

But our assets – not our income – give us a different opportunity.

A simple example

Take, for example, a couple who bought their home in the 1970s for $38,000. They continued to work year after year. They raised their kids and sent them to school. Grandchildren were born. The mortgage was paid off. Today that $38,000 home is worth hundreds of thousands of dollars. When this couple dies, quite an estate will be left behind.

That’s why 1.5 million Canadians have decided that they can include charities as well as family in their wills. They realize that they can provide for loved ones and make meaningful gifts to their favourite causes.

Is a bequest your philanthropic opportunity?

If cancer is a cause that has deeply touched your life, we would welcome your charitable bequest. We promise that your gift will be used well to continue winning the fight against cancer.

Gifts of life insurance

Designating the Canadian Cancer Society as the beneficiary of your life insurance policy provides valuable tax savings to you today and will help people with cancer in the future.

Why leave a gift of life insurance?

Proceeds are paid directly to the Canadian Cancer Society and are not subject to probate fees.

You can receive an annual tax credit for the premium payments or a tax credit for your estate in the year of death when you make the Canadian Cancer Society the beneficiary of your life insurance policy.

A gift of life insurance will not reduce the overall value of your estate.

These gifts can make a big impact on the quality of life for people with cancer, can have a relatively low cost to you and may also provide tax relief for your estate.

Gifts of publicly traded securities

Transferring securities such as shares, mutual funds and stock options to the Canadian Cancer Society is a powerful way you can fight cancer.

Why give a gift of securities?

You pay no tax on the capital gains when you transfer your securities to the Canadian Cancer Society.

You receive a tax receipt for the closing price of the securities on the date they are received by the Canadian Cancer Society.

Registered Retirement Savings Plans

Designating your RRSP or RRIF to the Canadian Cancer Society bypasses taxes and fees, ensuring that your savings are used to their maximum potential.

Why leave an RRSP or RRIF gift?

Naming the Society as a direct beneficiary in your will allows your RRSP or RRIF to flow outside of your estate’s assets, meaning your RRSP or RRIF is not subject to estate probate fees and taxes.

How to include an RRSP or RRIF in your will

Simply name the Canadian Cancer Society as the beneficiary of a RRSP or RRIF

Advise the institution holding your retirement account of the change.

Over the years, we’ve learned that every bequest donor is different. Some like to make their gifts in total privacy and anonymity, knowing that the gift will only be revealed once they have died. Others prefer to talk to us beforehand to get information and perhaps some advice on how best to organize their gifts.

Whichever your giving preference, we want you to know that you are more than welcome to reach out to us. Kendra Morton has the experience, expertise and sensitivity to talk with donors about bequest gifts. Please feel free to get in touch with her anytime you wish. She would love to hear from you.